re: UPDATE Contacted today about refinancing my home from my Mortgage Company

I was in a similar situation where I had a 4.375% loan a couple years old and I refinanced last month at 2.875%. I did get that rate by having good credit and moving down to a 15 year loan, but I decided it was worth it for the severe change in rate.

I had 156k left on the loan and now I have 159k but it also included a months payment that I didn't have to pay so basically $1300 of the extra amount was for the month of the loan that I never had to pay. I also got a check back from my old mortgage company for the remaining balance of my insurance and taxes which was for like 600 or 700 bucks.